Eos Energy Enterprises, Inc. (NASDAQ:EOSE) Receives $6.50 Consensus Target Price from Analysts

Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Get Free Report) has earned a consensus recommendation of "Hold" from the six analysts that are currently covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $6.50.

EOSE has been the topic of several research analyst reports. Wall Street Zen cut shares of Eos Energy Enterprises from a "hold" rating to a "sell" rating in a report on Saturday, July 5th. TD Cowen upgraded shares of Eos Energy Enterprises to a "hold" rating in a research note on Monday, June 23rd. Stifel Nicolaus lowered their target price on shares of Eos Energy Enterprises from $9.00 to $8.50 and set a "buy" rating on the stock in a research note on Monday, June 9th. Finally, Guggenheim decreased their price target on shares of Eos Energy Enterprises from $7.00 to $6.00 and set a "buy" rating on the stock in a report on Monday, June 2nd.

Eos Energy Enterprises Stock Up 0.6%

Shares of NASDAQ EOSE traded up $0.04 on Friday, hitting $6.07. The company had a trading volume of 8,496,173 shares, compared to its average volume of 8,962,745. Eos Energy Enterprises has a 12-month low of $1.40 and a 12-month high of $7.36. The business has a 50 day moving average of $5.04 and a two-hundred day moving average of $4.90. The firm has a market capitalization of $1.38 billion, a P/E ratio of -1.37 and a beta of 2.01.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported ($0.20) earnings per share for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.01). The firm had revenue of $10.46 million during the quarter, compared to analyst estimates of $11.77 million. On average, sell-side analysts anticipate that Eos Energy Enterprises will post -2.54 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Nathan Kroeker sold 47,254 shares of the company's stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $4.92, for a total value of $232,489.68. Following the completion of the sale, the chief financial officer owned 491,054 shares in the company, valued at $2,415,985.68. This represents a 8.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Michael W. Silberman sold 100,943 shares of the company's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $6.86, for a total value of $692,468.98. Following the transaction, the general counsel directly owned 161,404 shares in the company, valued at $1,107,231.44. The trade was a 38.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 758,886 shares of company stock worth $4,827,806 in the last ninety days. 3.63% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Eos Energy Enterprises

Hedge funds have recently modified their holdings of the stock. KBC Group NV acquired a new position in shares of Eos Energy Enterprises in the first quarter valued at approximately $38,000. SBI Securities Co. Ltd. boosted its holdings in shares of Eos Energy Enterprises by 588.0% in the 1st quarter. SBI Securities Co. Ltd. now owns 10,065 shares of the company's stock valued at $38,000 after purchasing an additional 8,602 shares in the last quarter. Elevatus Welath Management bought a new position in shares of Eos Energy Enterprises in the 1st quarter valued at $39,000. Parallel Advisors LLC bought a new position in shares of Eos Energy Enterprises in the 1st quarter valued at $43,000. Finally, Janney Montgomery Scott LLC bought a new position in shares of Eos Energy Enterprises in the 2nd quarter valued at $59,000. 54.87% of the stock is owned by institutional investors and hedge funds.

About Eos Energy Enterprises

Eos Energy Enterprises, Inc designs, manufactures, and markets zinc-based energy storage solutions for utility-scale, microgrid, and commercial and industrial (C&I) applications in the United States. The company offers Znyth technology battery energy storage system (BESS), which provides the operating flexibility to manage increased grid complexity and price volatility.